Heidi D. Lewis - 17 Mar 2023 Form 4 Insider Report for Target Hospitality Corp. (TH)

Role: EVP, General Counsel & Sec
Signature: /s/ Heidi D. Lewis
Issuer symbol: TH
Transactions as of: 17 Mar 2023
Net transactions value: -$48,823
Form type: 4
Filing time: 20 Mar 2023, 16:45:14 UTC
Previous filing: 07 Mar 2023
Next filing: 22 May 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TH	Common Stock, par value $0.0001 per share	Options Exercise	$89,483	+19,841	+26%	$4.51	97,505	17 Mar 2023	Direct
transaction	TH	Common Stock, par value $0.0001 per share	Tax liability	$138,306	-8,485	-8.7%	$16.30	88,520	17 Mar 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	TH	Employee Stock Option (right to buy)	Options Exercise	$0	-19,841	-50%	$0.000000	19,841	17 Mar 2023	Common Stock	19,841	$4.51	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The options reported in this footnote 1 represent the right upon vesting to buy shares of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), pursuant to the terms and conditions of the Target Hospitality Corp. 2019 Incentive Award Plan (as amended, the "Plan") and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of March 4, 2020 (the "2020 Option Award Agreement"). The options reported in this footnote 1 vest in equal installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the Plan and 2020 Option Award Agreement.

Content

The options reported in this footnote 1 represent the right upon vesting to buy shares of common stock of the Issuer, par value $0.0001 per share ("Common Stock"), pursuant to the terms and conditions of the Target Hospitality Corp. 2019 Incentive Award Plan (as amended, the "Plan") and the Nonqualified Stock Option Award Agreement entered into between the Issuer and the Reporting Person as of March 4, 2020 (the "2020 Option Award Agreement"). The options reported in this footnote 1 vest in equal installments on each of the first four anniversaries of the grant date beginning on March 4, 2021, subject to the terms and conditions of the Plan and 2020 Option Award Agreement.